(Alliance News) - Life sciences firm OptiBiotix Health PLC said on Monday it has entered into an exclusive licence agreement with OptiPharm Pty Ltd for the use of its OptiBiome weight management ingredient.
OptiBiotix Health shares were trading 40% higher at 46.05 pence each on Tuesday afternoon in London.
OptiBiome is an alternative trademark to SlimBiome to support the sale of OptiBiotix's SlimBiome ingredient in countries in which an implied health claim cannot be made.
Under the agreement, Australia-based health & beauty retail company OptiPharm has the exclusive use of the OptiBiome trademark in over 20 markets including Australia, New Zealand, Middle East and North America.
"We are very pleased to enter into a commercial agreement with OptiPharm to make OptiBiotix's award-winning weight management solution available to a wide range of customers through major pharmacy and supermarket retailers and online in over 20 countries. We are excited to work with such a well known market leading partner who has the means to promote its products aggressively, said Fred Narbel, managing director of OptiBiotix's prebiotics division.
"This deal further expands our access to global markets and we are particularly pleased to have our functional ingredient sold by major retailers in more and more countries around the world creating value for our partners, customers and shareholders," he added.
By Ife Taiwo; ifetaiwo@alliancenews.com
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OptiBiotix Health (OPTI)